On 21 December Long Run Exploration announced a friendly takeover agreement with undisclosed Chinese investors. Consideration totals Cdn$770 million (US$550 million) with nearly 90% of that servicing debt holders. The deal cancels a previously announced private placement with Maple Marathon Investments owned by Hong Kong listed and MIE Holdings Corporation and ends a strategic review process that began in November 2015. The Canadian independent had oriented itself around oil weighted growth plays in the Girouxville / Normandville Montney Cardium and Viking and has been materially impacted by the drop in crude prices. This is the ninth Canadian upstream company to be acquired in 2015 with most of the buyers being existing Canadian producers.